Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) Receives Average Recommendation of “Buy” from Analysts

Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) has been given a consensus rating of “Buy” by the six analysts that are presently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have covered the stock in the last year is $1.74.

Separately, Canaccord Genuity Group dropped their price target on shares of Dragonfly Energy from $1.50 to $1.25 and set a “buy” rating for the company in a research note on Friday, November 15th.

Institutional Trading of Dragonfly Energy

A number of hedge funds have recently modified their holdings of the company. AQR Capital Management LLC bought a new position in Dragonfly Energy during the second quarter worth about $37,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Dragonfly Energy during the second quarter worth about $48,000. Finally, KFG Wealth Management LLC lifted its holdings in shares of Dragonfly Energy by 37.2% during the 2nd quarter. KFG Wealth Management LLC now owns 423,830 shares of the company’s stock valued at $359,000 after purchasing an additional 115,000 shares in the last quarter. 8.19% of the stock is currently owned by institutional investors and hedge funds.

Dragonfly Energy Stock Down 26.3 %

Shares of DFLI opened at $0.37 on Friday. Dragonfly Energy has a one year low of $0.33 and a one year high of $1.46. The company has a market capitalization of $23.36 million, a P/E ratio of -0.82 and a beta of -0.83. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.80 and a quick ratio of 0.31. The business’s 50 day simple moving average is $0.54 and its 200-day simple moving average is $0.73.

Dragonfly Energy’s stock is set to reverse split on Friday, November 22nd. The 1-9 reverse split was announced on Tuesday, November 19th. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, November 21st.

About Dragonfly Energy

Dragonfly Energy Holdings Corp. engages in the manufacturing and sale of deep cycle lithium-ion batteries for recreational vehicles, marine vessels, solar and off-grid residence industries, and industrial and energy storage markets. The company provides lithium power systems comprising solar panels, chargers and inverters, system monitoring, alternator regulators, accessories, and others.